A division of Sunland City Highlands Manufacturing is considering purchasing a machine for $1,320,000 that automates the process of inserting electronic components onto computer motherboards. The annual cost of operating the machine will be $44,000, but it will save the company $326,000 in labor costs each year. The machine will have a useful life of 10 years, and its salvage value in 10 years is estimated to be $264,000. However, for tax purposes the initial purchase price of the machine will be depreciated straight-line to zero. If the marginal corporate tax rate is 32 percent and the appropriate discount rate is 12 percent, what is the NPV of this project?